Roundtable on Social Impact Investing in Health 16 February 2016 Susan Pascoe AM Commissioner Australian Charities and Not-for-profits Commission Social Impact Bonds: The buck stops at the board
A SHARED UNDERSTANDING Don’t assume we all understand the model; Understand the roles and the aspirations of the participants; Understand the attitude of the Regulator
SOCIAL FINANCE IN AUSTRALIA Solving wicked problems needs resourcing; Resources of government and philanthropy not enough; Social Impact Bonds are a new tool in the box.
WHAT DOES THE REGULATOR THINK?
PROFIT IS OK Not for Profit has a principal purpose other than profit; Profit can be a means to a charitable purpose; Keep the focus on the purpose but use profit as a means to an end
WHAT ABOUT GOVERNMENT? Charities can work with others to achieve purpose; Government and Private investment and NFPs can work together; Don’t compromise your purpose
The Board must be in control; Custodians of purpose; Stewards of assets; Mitigators of risk; Sentries of Solvency Diligent and Careful
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